MRK · 10-Q · 2026Q3 · Full report
Revenue Performance and Mix
Merck & Co., Inc. · 2026-11-04 · Importance 42 · Surprise 14 · No source text
Worldwide sales were $18.1 billion in the third quarter and $51.0 billion in the first nine months of 2026, up 5% in each period year over year; U.S. sales benefited from purchase timing by approximately $550 million in both periods. Growth came from oncology, cardiometabolic, respiratory and specialty products, and Animal Health, partially offset by lower vaccines and infectious diseases sales. Animal Health sales increased to $1.676 billion in the third quarter from $1.615 billion and to $5.243 billion in the first nine months from $4.849 billion; livestock sales rose 2% and 8% in those periods, respectively. Key product movements included Winrevair sales growth of 93% in the third quarter and 85% year to date, Welireg growth of 56% and 57%, and declines in Januvia/Janumet of 39% and 32%, Lagevrio of 88% and 85%, and Dificid of 68% in both periods.
Key facts
- Lagevrio sales declined 88% in Q3 2026 and 85% in the first nine months, largely due to lower demand in Japan and the U.S. as COVID-19 cases declined; Merck expects the decline to continue in 2026. source
- Merck reported worldwide sales of $18.1 billion in Q3 2026 and $51.0 billion in the first nine months of 2026, increases of 5% over the corresponding 2025 periods. source
- Koselugo alliance revenue declined 94% in Q3 2026 and 39% in the first nine months following the August 2025 collaboration amendment; 2026 year-to-date revenue included a $150 million payment. source
- Welireg sales rose 56% in Q3 2026 and 57% in the first nine months, primarily from increased U.S. advanced-RCC and adjuvant-RCC use and international uptake, particularly Japan. source
- U.S. sales in both Q3 and the first nine months of 2026 benefited by approximately $550 million from purchase timing. source
- Reblozyl collaboration royalty revenue increased 31% in Q3 2026 and 24% in the first nine months, primarily due to strong underlying sales performance. source
- Prevymis worldwide sales grew 30% in Q3 and the first nine months of 2026, primarily due to higher global demand, particularly in the U.S. source
- Ohtuvayre Q3 2026 sales had a modest unfavorable effect from U.S. specialty-pharmacy purchase timing, which favorably affected Q2 2026 sales. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +13.1% | Merck reported worldwide sales of $18.1 billion in Q3 2026 and $51.0 billion in the first nine months of 2026, increases of 5% over the… |
| revenue | negative | realized | — | Lagevrio sales declined 88% in Q3 2026 and 85% in the first nine months, largely due to lower demand in Japan and the U.S. as COVID-19… |
| revenue | negative | probable | — | Lagevrio sales declined 88% in Q3 2026 and 85% in the first nine months, largely due to lower demand in Japan and the U.S. as COVID-19… |
| revenue | negative | realized | — | Koselugo alliance revenue declined 94% in Q3 2026 and 39% in the first nine months following the August 2025 collaboration amendment; 2026… |
| revenue | positive | realized | — | Welireg sales rose 56% in Q3 2026 and 57% in the first nine months, primarily from increased U.S. advanced-RCC and adjuvant-RCC use and… |